Turkish and Mediterranean Restaurant in Central London For Sale

Situated in a parade, excellent trading position, residential, office and commercial area, close to Underground stations, CITY OF LONDON.

Turnover £ 3,000
Price £128,000

Features

Turkish & Mediterranean Restaurant

DOUBLE FRONTED PREMISES in the region of 1,140 ft² WITH ELECTRIC SHUTTERS. WOODEN FLOOR (NEEDS ATTENTION), SPOT AND TUBE LIGHTING.Tables and chairs seating 25. Chilled glass fronted display, electric cash register, cake display stand, double fridge, 2 contact grils, wash hand basin. Tables and chairs providing seating for 23 People (can be expanded)

First floor - 2 rooms above used for storage

Stairs to basement

KITCHEN. Stainless steel extractor, 2 stainless steel tables, 6-burner gas cooker with oven, commercial mixer, electric oven, microwave, 2 chest freezers, upright freezer, upright fridge, double sink and drainer, wash hand basin.

Cloakroom with toilet and wash hand basin

Turnover

WE ARE INFORMED when trading the turnover was £3,000 per week with a Gross profit of 65% approx. (NO DELIVERIES)

Staff

The business is at present operated by the vendor (part time) with 1 full time & 1 part time staff.

Trading Hours

6 Day week
MONDAY - SATURDAY 12 noon - 8pm

Outside

Yard to rear.

Tenure

We understand the Council will grant a new 10 years lease at a proposed starting rent of £35,000 p.a. with rent reviews to be agreed.

Business Rates from April 2025 £7,000 approx. payable after small business. (Please contact local authority to confirm)

Price

TO INCLUDE THE SECURE RENEWABLE LEASE, GOODWILL, FIXTURES & FITTINGS £128,000 plus STOCK AT VALUATION.
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.

Finance

Subject to status, you maybe able to borrow up to £ 64,000 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote